Wait, Who Saved the Financial System?

It wasn't Mr. Obama but pre-postpartisan Washington that got the job done.

By

Holman W. Jenkins, Jr.

Updated Sept. 7, 2012 7:58 p.m. ET

From Bill Clinton to Joe Biden to Michelle Obama, Democrats tried to get mileage from jobs not lost because the economy did not succumb to a total meltdown, thanks to President Obama's timely rescue of the banking system.

Mr. Obama's administration does get credit for mopping up, namely the kabuki "stress tests" that pronounced the banking system "saved." Mr. Obama also played an important role before he took...